Martela’s operating loss is deeper than expected – competition weighed on margins

Martel’s according to preliminary unaudited financial statement data, the group’s operating result for the entire year 2024 did not reach the level according to the 11 December 2024 guidelines.

According to preliminary unaudited financial statement data, the net sales and operating profit for the entire year 2024 weakened compared to the previous year. The turnover was around 87 million euros and the operating loss was 6.3 to 6.7 million euros. Last year, the turnover was 94.4 million euros and the operating loss was 2.4 million euros.

The guidance that was in force predicts a turnover of 85-89 million euros and an operating loss of 3.8-6.1 million euros.

The net sales and operating profit of the last quarter weakened compared to the corresponding time of the previous year. The turnover for the last quarter was around 25 million euros and the operating loss was 1.6-2.0 million euros. A year earlier, the turnover for the quarter was 26.4 million euros and the operating profit was 1.5 million euros.

According to the company, behind the weaker-than-expected performance is the tight competitive situation in the market. It weighed on margins both in Finland and in other market areas more than expected.

“The outlook for the beginning of 2025 is more positive than the corresponding time in 2024. Martela has started the planning of operations efficiency measures as announced on January 3, 2025,” the company’s press release says.

Martela will publish its 2024 financial statement bulletin on February 12, 2025.